The Kvarts glass products plant, which was returned to state ownership in February 2025 after a failed privatization, ended 2025 with a net profit. According to last year's results, the enterprise's net profit amounted to 1.3 billion Uzbek soums. In comparison, the plant recorded a loss of 142 billion soums in 2024 and 21.7 billion soums in 2023, marking a significant turnaround in its financial performance.

The company's annual net revenue in 2025 reached 593.4 billion soums, increasing by 13.7%. At the same time, production costs decreased from 503 billion to 454.4 billion soums. The enterprise's debt burden also declined: the volume of long-term loans reduced from 195.3 billion to 87.6 billion soums, while short-term loans and borrowings fell from 126.6 billion to 95.7 billion soums.

The unsuccessful privatization process began in February 2023, when 89.7% of the state share in Kvarts' charter capital was sold to Kuvasaycement JSC for 265 billion soums with a three-year payment term. Under the deal's terms, the buyer was also required to repay the enterprise's loan of 47.2 million euros, attracted between 2018 and 2021, by the end of 2026. However, after privatization, the company's financial indicators deteriorated, leading to losses in 2023 and 2024.

On February 14, 2025, the sales contract was terminated due to the buyer's difficulties in fulfilling contractual obligations. Following this, the enterprise was returned to the state, and authorities announced measures for its financial recovery. Kvarts JSC, founded in 1975, is one of the largest enterprises in Central Asia for producing glass containers, automotive glass, and other glass products.

Source: kun.uz